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CBS
Dec 25, 2012 5:30pm PST
house and congressional leaders to reach a budget deal to avoid tax increases for nearly every american. president obama is on vacation in hawaii, and that's where we find nancy cordes tonight. nancy, what can you tell us? >> well, jim, still no conversations today between owmocrats and republicans on how to avert the fiscal cliff, which is a sure sign that the senate majority leader, harry reid, a democrat, is working on crafting legislation on his own that he would essentially dare house and senate republicans to oppose. his legislation would likely extend the bush-era tax cuts for households making less than 250,000 a year. it might also include enough short-term spending cuts to temporarily offset for, say, six or eight months, the indiscriminate across-the-board spending cuts that are set to go into effect on january 1. yis bill would also try to tie up some year-end loose ends by extending long-term unemployment benefits, patching the alternative minimum tax that duds up hitting so many middle class families, and preventing a mbg scheduled drop-off in thdicare reimbursement rates
CBS
Dec 28, 2012 6:30pm EST
leaders left the white house after a last-ditch fiscal cliff meeting with president obama. the closed-door meeting was an attempt to avoid the automatic tax hikes and spending cuts set to king at the start of the new year. >> we had a constructive meeting today. senator reid and senator mcconnell are discussing a potential agreement where we could get a bipartisan bill out. >> reporter: at the present time reminded lawmakers thers
CBS
Dec 31, 2012 6:30pm EST
the fiscal cliff which could trigger across-the-board tax increases and billions in spending cuts. however, there is hope for a soft landing. senate republican leader mitch mcconnell and president obama said today a deal was close. but late in the day house leaders announced they will not vote on a deal tonight. they're waiting for the senate. so what happens now? we have two reports beginning with nancy cordes on capitol hill. nancy, good evening. >> good evening to you, rebecca. it looks like the deadline pressure finally prompted a meeting of the minds today. negotiators agreed to a plan that extends the bush era tax cuts for 99% of americans. but they are hung up on one key spending issue, and so it looks like we will go over the fiscal cliff at least temporarily. >> we're very, very close to an agreement. >> reporter: senate republican leader mitch mcconnell said his round-the-clock negotiations with vice president biden had paid off. >> i can report that we've reached an agreement on all of the tax -- the tax -- issues. >> reporter: first and foremost, the bush era tax cuts. the two
Search Results 0 to 2 of about 3